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Auto loan after chapter 7 discharge help

JGGM
Frequent Contributor

Re: Auto loan after chapter 7 discharge help

You do realize a $30-40k car could put you back into a situation where you can't pay things right? $30,000 at 18% interest for 72 months is $684. Even if you can get approved for such loan, why wouldn't you take a step back and find a $12k car that will get you to and from wherever you need to go? I don't mean to sound harsh, but you're about to complete a Chapter 7 BK - wouldn't it be more wise to focus on never being in this situation again?

Current Score 6-11-20: TU: 821 EX: 837 EQ: 813
Goal Score:ACHIEVED - 800 Across the Board
In My Wallet: Cap1 QS - PenFed Power Cash Rewards - PenFed Promise - AmEx Delta Gold - AmEx Platinum - DISCO - NFCU Cash Rewards - AmEx Simply Cash Business - Chase Sapphire Preferred

Message 11 of 13
Pippy26
New Visitor

Re: Auto loan after chapter 7 discharge help

You are right! you guys are all right. I think I just was so happy to be debt free again and I got overly excited. I should take a step back and start with a lower loan and work my way up. I appreciate all the help and responses thank you!!
Message 12 of 13
JGGM
Frequent Contributor

Re: Auto loan after chapter 7 discharge help


@Pippy26 wrote:
You are right! you guys are all right. I think I just was so happy to be debt free again and I got overly excited. I should take a step back and start with a lower loan and work my way up. I appreciate all the help and responses thank you!!

I think down the road you'll be happy with that decision. I understand being excited, and it is a huge milestone. 

Current Score 6-11-20: TU: 821 EX: 837 EQ: 813
Goal Score:ACHIEVED - 800 Across the Board
In My Wallet: Cap1 QS - PenFed Power Cash Rewards - PenFed Promise - AmEx Delta Gold - AmEx Platinum - DISCO - NFCU Cash Rewards - AmEx Simply Cash Business - Chase Sapphire Preferred

Message 13 of 13
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